Princeton Global Asset Management LLC Raises Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Princeton Global Asset Management LLC boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,710 shares of the business services provider’s stock after buying an additional 238 shares during the period. Princeton Global Asset Management LLC’s holdings in Broadridge Financial Solutions were worth $4,004,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of BR. Bogart Wealth LLC raised its stake in shares of Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. True Wealth Design LLC grew its holdings in Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after purchasing an additional 142 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after purchasing an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at $38,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the 3rd quarter worth $39,000. Institutional investors own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BR. UBS Group started coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Morgan Stanley raised their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $228.83.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the transaction, the insider now owns 27,137 shares of the company’s stock, valued at $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock valued at $12,264,846 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $238.50 on Monday. The business’s 50 day moving average price is $231.26 and its 200-day moving average price is $220.33. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $241.45. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. The firm has a market capitalization of $27.88 billion, a PE ratio of 37.32 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the previous year, the firm posted $0.92 earnings per share. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.55 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.